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Pin to quick picksEuropa Oil & Gas Share News (EOG)

Share Price Information for Europa Oil & Gas (EOG)

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TRADING UPDATES: Quixant swings to 2020 loss but recommends dividend

Wed, 14th Apr 2021 12:04

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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Quixant PLC - Cambridge-based technology outsourcer for gaming industry - Revenue for 2020 falls 31% to USD63.8 million from USD92.3 million the year before due to Covid-19 "weighing heavily" on demand in the gaming business, and the firm swings to a pretax loss of GBP2.0 million from a profit of GBP9.4 million in 2019. Despite loss, Quixant declares dividend of 2.0 pence share, versus none in 2019. "The board is confident in the future prospects of the group which is reflected in our decision to recommend payment of a dividend," Chief Executive Jon Jayal says, adding that 2021 has started strongly with healthy order intake.

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Merchants Trust PLC - invests mainly in higher-yielding large UK companies - Net asset value per share ends financial year on January 31 at 458.5p compared to 551.5p at the same point a year before. During the recent year, NAV total return, with debt at market value, fell by 12%, compared with a 7.5% decrease for its benchmark, the FTSE All-Share index, on a total return basis. "Approximately half of the difference is accounted for by the gearing of the portfolio, which exacerbates market movements, in either direction. The board believes that over the long term, a prudent level of gearing should add value and enhance income for shareholders," company explains, adding: "Whilst the near 5% underperformance for the 2021 financial year is disappointing, it should be viewed in the context of an extremely strong 2020 financial year where the NAV total return was 8% above the benchmark, and also in terms of the strong recovery in the second half of 2020."

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Destiny Pharma PLC - Brighton, England-based biotechnology firm - Reports pretax loss of GBP6.5 million for 2020, widening from GBP5.5 million the year before. Company says it remains "financially robust" and well positioned to advance the development of its lead assets and earlier pipeline during 2021, with an estimated cash runway to the fourth quarter of 2022. "The strong balance sheet will provide Destiny Pharma with working capital through to Q4 2022 enabling it to complete the preparation of NTCD-M3 for its single Phase 3 study," the firm says.

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Anglo Pacific Group PLC - London-based natural resources royalty and streaming - Sinks to pretax loss of GBP27.2 million in 2020 from GBP37.6 million profit in 2019. Royalty revenue falls to GBP34.0 million from GBP55.7 million, as royalty income declines to GBP25.0 million from GBP45.1 million. "Results reflect lower production levels from Kestrel compared to the record level produced in 2019. 2020 volumes were 11% lower at 5.8 million tonnes which are expected to be the level the operators are targeting in the near-term," company explains. Annual dividend kept unchanged at 9 pence. Notes Vanessa Dennett will retire as a non-executive director. Search process now underway to replace Dennett.

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Futura Medical PLC - Surrey-based pharmaceutical company - Pretax loss in 2020 narrows to GBP2.9 million from GBP11.1 million in 2019. Research & development costs fall to GBP1.9 million from GBP10.1 million, and administrative costs slip to GBP1.0 million from GBP1.1 million. Reports no revenue in 2020 after GBP31,779 in 2019. Chair John Clarke says: "This year, against the backdrop of the turbulence and challenges posed by the Covid-19 pandemic, the team at Futura has been resolutely focused on gaining regulatory approval for MED3000 in Europe and the US. We look forward to receiving the EU certificate to enable MED3000 to be marketed as a breakthrough, fast acting, clinically proven OTC treatment for ED shortly as well as commencing the remaining clinical work we believe will also deliver a similar approval for MED3000 in the USA."

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Europa Oil & Gas Holdings PLC - UK, Ireland and Morocco focused oil and gas company - Reports revenue for half-year to January 31 of GBP516,000, down from GBP778,000 year-on-year. However, pretax loss narrows to GBP687,000 from GBP3.5 million a year ago, thanks to a GBP3.0 million exploration write-off in the prior-year period which did not repeat in the latest half. "The commencement of oil flow at Wressle, the extension to the Initial Phase of the Inezgane permit and the GBP1.44 million fundraise (net of fees) post period end, provide a strong foundation upon which to build on in the second half of the year," company says.

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Kooth PLC - London-based digital mental health platform - Pretax loss in 2020 widens to GBP1.9 million from GBP1.3 million loss in 2019. Annual revenue, however, improves to GBP13.0 million from GBP8.7 million. Annual recurring revenue rose 33% as company notes revenue ahead of expectations, driven by fee uplifts from existing clients and new business in Adult and CYP units. Administrative expenses grow to GBP10.0 million from GBP5.7 million. Says new year starts well with strong new business performance giving an ARR at March 31 of GBP15.9 million.

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By Paul McGowan; paulmcgowan@alliancenews.com and Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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15 Apr 2020 17:37

Europa Oil Cuts Management Pay To Save Cash, Interim Loss Widens

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15 Apr 2020 10:33

Europa Oil confident in position amid Covid crisis

(Sharecast News) - UK, Ireland and Morocco-focussed exploration, development and production company Europa Oil & Gas reported revenue of £0.8m in its first half on Wednesday, slipping from £0.9m year-on-year.

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31 Mar 2020 16:28

Europa Oil looking as cost reductions amid oil price weakness

(Sharecast News) - Europa Oil & Gas updated the market in light of the Covid-19 coronavirus pandemic on Tuesday, and the associated market volatility and oil price weakness.

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31 Mar 2020 12:21

UK TRADING UPDATE SUMMARY: Synairgen Starts Covid-19 Treatment Trial

UK TRADING UPDATE SUMMARY: Synairgen Starts Covid-19 Treatment Trial

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12 Mar 2020 17:12

Europa Oil Appoints Reabold Co-Chief Stephen Williams To Board

Europa Oil Appoints Reabold Co-Chief Stephen Williams To Board

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5 Feb 2020 12:00

Europa Oil Relinquishes Irish Offshore Licensing Option

Europa Oil Relinquishes Irish Offshore Licensing Option

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5 Feb 2020 09:23

Europa Oil relinquishes South Porcupine licensing option

(Sharecast News) - UK, Ireland and Morocco focused exploration, development and production company Europa Oil & Gas has chosen to relinquish its interest in licensing option 16/19 in the South Porcupine Basin, offshore Ireland, it announced on Wednesday.

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23 Jan 2020 12:13

Back To Drawing Board For Europa Oil As Farm-In Talks Break Down

Back To Drawing Board For Europa Oil As Farm-In Talks Break Down

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17 Jan 2020 16:40

Egdon Wins Appeal And Gets Planning Permission For Wressle Development

Egdon Wins Appeal And Gets Planning Permission For Wressle Development

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12 Dec 2019 08:51

Europa Oil Expects UK Production To Double After Wressle Approval

Europa Oil Expects UK Production To Double After Wressle Approval

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11 Dec 2019 16:54

Europa Oil Expects UK Production To Double After Wressle Approval

Europa Oil Expects UK Production To Double After Wressle Approval

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21 Nov 2019 11:49

Hugh Mackay vacates position as CEO of Europa Oil

(Sharecast News) - Europa Oil & Gas Holdings announced on Thursday that, by mutual agreement, chief executive officer and executive director Hugh Mackay was stepping down from the board with immediate effect, having served since 2011.

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21 Nov 2019 11:32

Europa Oil & Gas Chief Executive Hugh Mackay To Leave At End Of 2019

Europa Oil & Gas Chief Executive Hugh Mackay To Leave At End Of 2019

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19 Nov 2019 10:46

Egdon Resources Narrows Full-Year Loss As Awaits Wressle Verdict

Egdon Resources Narrows Full-Year Loss As Awaits Wressle Verdict

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8 Nov 2019 11:38

Egdon, Europa And Union Jack Expect Wressle Verdict Before 2019 End

Egdon, Europa And Union Jack Expect Wressle Verdict Before 2019 End

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